National Wealth Management Group LLC Has $5.58 Million Stake in Invesco QQQ $QQQ

Key Points

• National Wealth Management Group LLC increased its holdings in Invesco QQQ by 10.7%, making it the firm’s 4th biggest holding worth approximately $5.58 million.
• Goldman Sachs Group Inc. reported a remarkable 959.6% increase in their stake in Invesco QQQ, now owning over 24 million shares valued at about $11.3 billion.
• Invesco QQQ's recent quarterly dividend was $0.5911 per share, resulting in a 0.4% yield for investors.

National Wealth Management Group LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,892 shares of the exchange traded fund's stock after purchasing an additional 1,154 shares during the quarter. Invesco QQQ comprises 3.7% of National Wealth Management Group LLC's portfolio, making the stock its 4th largest holding. National Wealth Management Group LLC's holdings in Invesco QQQ were worth $5,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after buying an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new stake in Invesco QQQ during the first quarter valued at about $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Invesco QQQ by 1.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after purchasing an additional 52,234 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after purchasing an additional 54,944 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded up $2.81 during mid-day trading on Monday, hitting $578.87. 46,247,371 shares of the company's stock traded hands, compared to its average volume of 45,285,074. The firm has a 50 day moving average of $565.25 and a two-hundred day moving average of $518.33. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

Invesco QQQ Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.